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as they talked about their expansion plans, especially into mexico. it's already been well established that hewlett packard, by far, is the worst component today. the other drag, as i mentioned, was oil. here's the contract in new york. now down 4%. after this market closed, the trading continued lower. we're even below that $94 mark that the sector. telecom, what else? that's the best performing sector in the s&p today. that's been the case a lot lately. consumer discretionary, financials still up there. some of the safe havens like health care and utilities also on that list. bottom five today shows how weak energy was. down a percent as a group today. materials also lower. i want to show you this chart. this is from spoke investment group. since the market peaked in mid-september, they took a look at market trading in the s&p on an hour-by-hour basis. this is a typical trading chart since mid-september on a daily basis. we've had a little stutter step in the morning. then you get a small rally, sideways action, then the real selloff comes in the hour. their conclusion is that the so
of the world. the ones like mexico and latin america are tied more directly to the united states. >> so you must believe that they're going to fix the fiscal cliff if you think things will be better next year. >> well, we think they'll muddle through eventually. our best guess is they'll kick the can down the road between now and the new congress and administration and the pressure will be on that at some point they'll work things out. hopefully in a fairly reasonable manner. i mean, it's another two years for the next election and four years until the next presidential election. so maybe they've got a little incentive to sit down and talk now. >> yeah, wouldn't that be nice? >> from your mouth to god's ears. >> jim bianco, what are you looking at right now ? what are you buying? >> i'm really looking at the election. i think this market has been all about monetary stimulus for the last two years. the rally we've had since june has been about qe-3. the concern we've had in the last few weeks other than earnings has been a romney presidency, means bernanke gets replaced. that's what's drivin
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